Wednesday, October 30, 2024
Miles from the Mainstream
D. R. ZUKERMAN, proprietor
The Silence on Credit Card
Interest Rates Continues

JANUARY 22, 2006 --

Is there not one public official in the land willing to speak out against credit card interest rates that are squeezing consumers.

LPR has already noted that Chase has imposed a rate close to 30% on a card held by this writer. That card was originally a Bank One card.

Another Chase card held by this writer carried an almost humane rate of 12.99% until the current bill which demands 29.99% -- 17 points about the previous statement.


This writer has the further honor to report that his Discover card has a 23.49% interest rate and his HSBC card has a 25.15% interest rate.

The silence of the media and our politicians on these onerous interests indicates the gap between leaders and people continues.

LPR believes neither a gas spike nor an interest rate squeeze is good for the economy, serving no more than, in the words of Federalist 57, the "ambitious sacrifice of the many to the aggrandizement of the few."